To buy an average Victoria home — about $900,000 in 2026 — you need roughly $177,000 in household income, based on lender limits and the mortgage stress test.
You need about $177,000 in household income to buy an average Victoria home ($900,000) in 2026 — assuming 20% down, the 39% GDS limit, ~1% property tax and a stress-tested qualifying rate near 6.5%. Less down means a bigger mortgage and a higher income requirement. Illustrative estimate, not advice.
Lenders cap your housing costs at about 39% of gross income (the GDS ratio) and qualify you at the stress-test rate. Here is the illustrative math for an average Victoria home:
| Average home price | $900,000 |
| Down payment (20%) | $180,000 |
| Mortgage amount | $720,000 |
| Qualifying (stress) rate | ~6.5% |
| Payment + tax + heat / mo | $5,761 |
| Household income needed | $177,000 |
A smaller down payment raises the mortgage and the income needed; a Bank of Canada rate cut lowers the qualifying rate and the bar. Track the current rate on the rate tracker and see the next decision. An island capital with retiree and lifestyle demand pressing on limited supply.
About $177,000 for an average Victoria home, illustratively, with 20% down under the 39% GDS limit and the stress test.
Yes — more down means a smaller mortgage and payment, so the income required drops.
No. It is an illustrative estimate to show the ballpark — verify with a mortgage professional.